international voice traffic, said it will today unveil a new technology that will help allow it compete with rivals such as Bermuda-based Global Crossing Ltd. and Level 3 Communications Inc.

Teleglobe will host a press conference at Manhattan's Plaza Hotel on Monday to outline its $5 billion announcement.

Additional details were not immediately available on Friday. Teleglobe has direct links via a vast web of ocean-floor cables and satellites to 160 countries. The company has licenses to resell facilities-based telecom services in 23 countries.